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Opinion

Why the aircraft seating market will exceed US$18 billion by 2025

Opinion WritersBy Opinion WritersJune 11, 20193 Mins Read
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The aircraft seating market will continue growing to 2025

The aircraft seating market is set to grow from its current market – valued at over US$12 billion in 2018 – to US$18 billion by 2025, according to a new research report by Global Market Insights, Inc.

Increasing aircraft demand owing to rising air passenger traffic across the globe will drive the aircraft seating market. Airlines are upgrading their aircraft fleets and introducing new routes to cater to leisure and corporate travellers. Advancements in seats along with enhanced ergonomic designs are contributing significantly towards improving the air travel experience. Additionally, major airlines are focusing on maximising the use of cabin space in their aircraft by optimising legroom to accommodate a high number of passengers.

Reduction in aircraft weight contributes significantly towards improving the operational efficiency of airliners, along with minimising carbon emissions considerably. For instance, according to the International Air Transport Association (IATA), aircraft manufacturers along with airlines announced their strategic plans for improving their average fuel efficiency by around 1.5% per year from 2009 to 2020. Additionally, the incorporation of advanced materials and technologies for manufacturing lower weight seats is further expanding the aircraft seating market share over the study timeframe.

Technological advancements in aircraft seats, including the integration of sensors in seats for enabling passengers to adjust their seat position using applications and software, are providing a positive outlook for expansion of the aircraft seating market. The slim profile of seats enables overall aircraft weight to be reduced, as well as improving legroom. For instance, in February 2019, Layer Design in London designed Move, a new seat concept for Airbus that analyses data and automatically adjusts the seat to fit the ergonomics of passengers.

The narrow-body aircraft seating sector is expected to witness the highest growth rate over the forecast timeframe. This growth can be attributed to the increasing demand for low-cost airlines across the globe. Additionally, improvements in fuel economy and operational efficiency, along with improvements in fuel tanks and higher wing load capacities, are further accelerating demand in the segment over the study timeframe.

Economy class dominates the market owing to the requirement for fitting more seats in such aircraft to accommodate growing passenger numbers. Additionally, these seats can be equipped with advanced features including extended headrest wings, magnetic meal trays, and automatic control of seat temperature and movement, contributing significantly towards improving the passenger travel experience.

Retrofit accounted for a considerable share of the aircraft seating market. Increasing demand for upgrades and modifications for aircraft cabins with the aim of enhancing the air passenger experience is helping drive the market expansion. For instance, in January 2019, Mirus Aircraft Seating announced an agreement with TUI Group to provide seats for its airlines operating in UK, Belgium and the Netherlands.

The North America aircraft seating market will show significant growth over the forecast timeframe owing to the high concentration of aircraft manufacturers across the region. Aircraft manufacturers are continuously investing in their manufacturing facilities for expanding aircraft production in order to meet order backlogs. For instance, in January 2019 Boeing announced the delivery of 806 aircraft, compared to 763 aircraft in 2017.

The major industry participants in the market include Mirus Aircraft Seating, Geven, Recaro Aircraft Seating, HAECO, Lufthansa Technik and Stelia Aerospace. Other key players include Safran, Collins Aerospace, Jamco, ZIM Flugsitz, Expliseat, Embraer Aero Seating Technologies and Iacobucci HF Aerospace. Partnership with aircraft manufacturers and airlines is the key strategy adopted by industry participants to enhance their market share.

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